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Vista Equity Partners, Robert Smith, private equity, pension fund
Smith will pay his penalty and back taxes, and then should get on with the business of running and growing Vista, several LPs told Buyouts.
clouds
Should the fundraising environment cloud over, LPs could take the upper hand in fee negotiations – with consequences for managers’ business models.
Risk
Fund age, available cash reserves and the sharing of carried interest can have a big impact on GPs having to return performance fees.
covid
As an example of the practice surfaces, an industry body is warning other companies not to use the covid-19 outbreak as an excuse to try and raise additional finance through flexible documentation.
Firms including Apollo Global Management and KKR are facing potential clawback issues due to covid-19-induced writedowns. What are the implications for GPs and LPs when it comes to sponsors having to pay back carry?
Compensation in PE is increasing across the board, especially in junior positions, according to two extensive research reports.
Dollar bill
When faced with criticism of its role in markets and society, the private equity industry has always been able to point to net returns as the ultimate vindication. In 2020 that won’t be enough.
operating partners
As GPs seek to boost portfolio company value, they are under pressure to reduce costs and increase efficiencies as operational issues become increasingly complex and LPs push for lower fees.
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